Broken out of the channel formation to the downside.
Bespoke resistance is located at 7872.
We have a 50% Fibonacci pullback level of 7878 from 7776 to 7980.
We look for a re-test of the upward trending resistance.
Expect trading to remain mixed and volatile.
We look to Sell at 7870
Target 1: 7760
Target 2: 7636
Price seems to be rejecting higher levels. Price has been hovering over the 61.8% fib retracement level of the previous wave and so I am looking to see a push to the downside.
All TP levels are of 61.8% nature.
- Descending triangle chart pattern has formed in the higher timeframes and price seems to be respecting the channel.
LTC/BTC pair shows bullish signals.
Breaking out of a descending channel we were in for the last couple of months,
While in that channel MACD daily gave strong bullish diverge signals.
If price manages to stay above 0.007 BTC it will head towards higher levels .
Taking profits out at 0.5 fibo from 0.012171 high to 0.006061 low which is at 0.009084 BTC and...
Following the big moves in euro after yesterdays european central bank meeting and the Euro spiking higher on lower than expected levels of Quantative easing being announced. The move higher has taken Euro Cad to the upper levels of the descending channel as per our trading view chart work. This coincides with extreme overbought levels on...
BTC holds the 10000 USDT mark though there are no buyers to boost the price on higher levels . It seems though from the chart that we will have to go higher for price to prepare on going deeper on lower lows territory as any attempt from sellers the last week only resulted on strong bounce back above 10000 every time we touched bellow that ,creating a bullish...
Price has approached weekly resistance and is rejecting, this is over a 1:4 risk/reward ratio. Clean and simple. Drop your telegram username in the comments to be added to a free group chat for 1 week's worth of free trades and analysis.
Price is corrective towards the top of an descending channel and is forming an expanding triangle. Waiting for corrective price action before taking a short position on a third touch.
First target is 3% followed by a target of 9% to the lower outer structure.
ELLIOT WAVE PLAY
- EXTENDED WAVE PLAY DOWN TOWARDS LEVEL 1.10530 LEVEL THEN PRICE BROKE UP THROUGH THE DESCENDING CHANNEL
- WAVE 1 HAS BEEN COMPLETED, CORRECTION 2 HAS BEEN COMPLETED, WAVE TO PLAY OUT
- 61.8% FIB LEVEL SUPPORTING THE BOUNCE AND PUSH OFF
My current BIAS for GBP/JPY for the upcoming week is currently NEUTRAL.
The reasons behind this are
-Price is within an ascending channel forming HH & HL, we are currently at our bottom line where in the past we have seen bounces to the upside so we could again see that aiming for our Daily Resistance at 130.480. BUT we have been within this uptrend for about 10...
Sell | Target 14 | StopL 19.6 | Having broken below the Jun-Aug bear flag/range pattern, any pullback to it's underside is likely to attract further selling. Like and follow us to stay ahead of the pack!
ONE FOR NEXT WEEK?
- PRICE BROKE OUT OF CONSOLIDATION BOX
- PRICE ALSO BROKE DESCENDING CHANNEL LINE
- 38.2 FIB LEVEL ALSO SUPPORTING THE BROKEN DESCENDING CHANNEL
- PULLBACK TO RETEST THE BROKEN CHANNEL LINE AND THEN ENTRY
ANOTHER ONE FOR NEXT WEEK?
- PRICE RECENTLY BROKE A UPWARD TREDNLINE
- PRICE CURRENTLY IN AND ASCENDING CHANNEL
- PRICE DID NOT MANAGE TO BREAK KEY LEVEL OF 1.68000
- PRICE RESPECTING DAILY DESCENDING CHANNEL
- ENTRY IS BREAK AND RETEST OF ASCENDING CHANNEL
We are taking a look at Aussie dollar versus US dollar on our trading view channel today. We have taken the daily chart to show the support level the market has found dating back to January flash crash as well as the descending channel we have been trading in for many months now. We are looking for a bounce from this support area at 0.675 area up...